A South Bay man was sentenced today to 97 months in federal prison for defrauding Asian investment firms out of $14 million by falsely claiming the money would be used to produce a feature film dis…
A South Bay man was sentenced today to 97 months in federal prison for defrauding Asian investment firms out of $14 million by falsely claiming the money would be used to produce a feature film distributed byWhile out on bond, the defendant also illegally sold the Manhattan Beach house he purchased with his ill-gotten gains by forging the signatures of his victims’ lawyers.
Joiner, who operated a company called Dark Planet Pictures, defrauded Korea Investment Global Contents Fund, a South Korean investment fund whose assets are managed by Korean Investment Partners Co., which reported $8 million in losses, federal prosecutors said. About $5.2 million of victim investors’ money was used to purchase Joiner’s Manhattan Beach residence and another $4.3 million was transferred to a bank account held by Joiner that may be linked to developing an unrelated film.
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